Landscape Capital Management L.L.C. Takes $1.99 Million Position in Penumbra, Inc. $PEN

Landscape Capital Management L.L.C. acquired a new position in Penumbra, Inc. (NYSE:PEN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,411 shares of the company’s stock, valued at approximately $1,993,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PEN. William Blair Investment Management LLC purchased a new stake in Penumbra in the 4th quarter worth $107,567,000. Holocene Advisors LP purchased a new position in shares of Penumbra during the third quarter valued at about $78,585,000. Man Group plc grew its position in shares of Penumbra by 1,862.2% during the second quarter. Man Group plc now owns 206,461 shares of the company’s stock valued at $52,984,000 after purchasing an additional 195,939 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Penumbra by 139.4% in the 2nd quarter. AQR Capital Management LLC now owns 330,990 shares of the company’s stock valued at $84,939,000 after acquiring an additional 192,734 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in shares of Penumbra in the 3rd quarter valued at about $43,476,000. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Penumbra

In related news, Director Harpreet Grewal sold 100 shares of the company’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $328.22, for a total transaction of $32,822.00. Following the completion of the transaction, the director owned 8,719 shares in the company, valued at $2,861,750.18. This represents a 1.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on PEN. Wall Street Zen raised shares of Penumbra to a “hold” rating in a research note on Saturday, May 9th. Citigroup decreased their price target on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Royal Bank Of Canada reissued a “sector perform” rating and set a $374.00 price objective on shares of Penumbra in a report on Thursday, June 11th. Evercore reissued an “outperform” rating and set a $335.00 price objective on shares of Penumbra in a report on Thursday, May 7th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $374.00 price target on shares of Penumbra in a report on Thursday, February 26th. Three equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $361.33.

Penumbra Trading Down 0.2%

Shares of Penumbra stock opened at $318.10 on Tuesday. The firm has a 50-day simple moving average of $325.44 and a two-hundred day simple moving average of $327.68. The company has a market cap of $12.51 billion, a P/E ratio of 73.29, a price-to-earnings-growth ratio of 1.95 and a beta of 0.71. Penumbra, Inc. has a fifty-two week low of $221.26 and a fifty-two week high of $362.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.95 and a current ratio of 6.02.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The firm had revenue of $374.76 million during the quarter, compared to analyst estimates of $370.47 million. During the same quarter last year, the company posted $0.83 EPS. The company’s revenue was up 15.6% on a year-over-year basis. As a group, equities analysts predict that Penumbra, Inc. will post 5.08 earnings per share for the current fiscal year.

Penumbra Profile

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.